Common use of ACCOUNTS AND PAYMENT Clause in Contracts

ACCOUNTS AND PAYMENT. 4.1 The Trustee shall have opened, prior to the Issue Date, and shall for so long as any Certificates are outstanding maintain, the Transaction Account in London which shall be operated by the Principal Paying Agent on behalf of the Trustee for the benefit of the Certificateholders. 4.2 The Trustee shall unconditionally cause to be deposited into the Transaction Account by no later than 10.00 a.m. (New York time) (in same day freely transferable and immediately available, cleared funds) on the Business Day prior to the date on which any payment in respect of the Certificates becomes due such amount as may be required for the purposes of making such payment, in each case, in accordance with the Transaction Documents. In this Clause 4.2 (Accounts and Payment), the date on which a payment in respect of the Certificates becomes due means the first date on which a Certificateholder could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a Business Day in any particular place of presentation. 4.3 Each of the Trustee and Infracorp shall procure that the bank through which any payment into the Transaction Account is to be made in accordance with Clause 4.2 (Accounts and Payment) shall irrevocably confirm to the Principal Paying Agent by authenticated SWIFT message no later than 1.00 p.m. (local time in the city of the Principal Paying Agent’s Specified Office) on the second Business Day before the due date for any such payment in respect of the Certificates that it will make such payment. 4.4 The Trustee hereby authorises and instructs the Principal Paying Agent, subject as provided in Clause 5.1 (Notification of Non-Receipt of Payment), to, and the Principal Paying Agent agrees that it shall, on each Periodic Distribution Date and on the date fixed for payment of the Dissolution Distribution Amount, or any earlier date specified for the liquidation of the Mudaraba, apply the moneys standing to the credit of the Transaction Account in accordance with Condition 5.3 (The Trust). The Trustee agrees that it will not issue any instructions to the Principal Paying Agent that conflict with the instructions set out above and further agrees that any contrary instructions it may give to the Principal Paying Agent shall constitute a breach of this Agreement. 4.5 The Principal Paying Agent shall apply each amount paid to it under this Clause 4 (Accounts and Payment) in accordance with the provisions of this Agreement, the Declaration of Trust and the Conditions.

ACCOUNTS AND PAYMENT. 4.1 5.1 The Trustee Issuer shall have openedopened with the Principal Paying Agent, prior to the Issue Closing Date, and shall for so long as any Certificates are outstanding maintain, the maintain in its name a Transaction Account in London respect of the Certificates which shall be operated by the Principal Paying Agent on behalf of the Trustee Issuer for the benefit of the Certificateholders. 4.2 5.2 The Trustee Issuer shall unconditionally cause to be deposited by wire transfer into the Transaction Account by no later than 10.00 a.m. (New York London time) (in same day freely transferable and immediately availabletransferrable, cleared funds) funds (or by such earlier time as may be determined by the Principal Paying Agent in its absolute discretion if required to comply with any changes in the settlement mechanics of the clearing systems provided that the Principal Paying Agent shall give the Issuer 21 days prior notice in writing of such determination): 5.2.1 on the date which is the Business Day prior immediately preceding each Periodic Distribution Date, to the extent paid by Ziraat Katılım (acting in its relevant capacities) pursuant to the Service Agency Agreement and the Murabaha Agreement, an amount equal to the relevant Required Amount due with respect to the Certificates on the relevant Periodic Distribution Date; and 5.2.2 on the date which is the Business Day immediately preceding the Dissolution Date or any earlier date on which any payment in respect of the all outstanding Certificates becomes due such amount as may be required for the purposes of making such payment, in each case, are redeemed in accordance with the Transaction Documents. In this Clause 4.2 (Accounts and Payment)Conditions to the extent paid by Ziraat Katılım pursuant to the Purchase Undertaking, the date on which a payment in respect of the Certificates becomes due means the first date on which a Certificateholder could claim Sale and Substitution Undertaking or any other Transaction Document, an amount equal to the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a Business Day in Dissolution Distribution Amount or any particular place of presentationother amount payable on such Dissolution Date. 4.3 Each of the Trustee 5.3 Subject to Clause 5.5 below, and Infracorp shall procure that the bank through which any payment into the Transaction Account is to be made in all cases in accordance with Clause 4.2 (Accounts and Payment) shall irrevocably confirm to the Principal Paying Agent by authenticated SWIFT message no later than 1.00 p.m. (local time in the city of the Principal Paying Agent’s Specified Office) on the second Business Day before the due date for any such payment in respect of the Certificates that it will make such payment. 4.4 The Trustee hereby authorises and instructs the Principal Paying Agent, subject as provided in Clause 5.1 (Notification of Non-Receipt of Payment), to, and the Principal Paying Agent agrees that it shallRepresentative Agreement, on each Periodic Distribution Date and or on the date fixed for payment of the any Dissolution Distribution Amount, Date or any earlier date specified for on which all outstanding Certificates are redeemed in accordance with the liquidation of Conditions, the Mudaraba, Principal Paying Agent shall apply the moneys monies standing to the credit of the Transaction Account in accordance with Condition 5.3 the following order of priority: 5.3.1 first, (The Trustto the extent not previously paid) to the Representative and any Appointee (as defined in the Representative Agreement) in respect of all amounts owing to it under the Transaction Documents in its capacity as Representative or Appointee (as the case may be). The Trustee agrees that it will not issue any instructions ; 5.3.2 second, to the Principal Paying Agent that conflict for application in or towards payment 5.3.3 third, pari passu and rateably to the extent not paid by Ziraat Katılım in accordance with the instructions set out above and further agrees that any contrary instructions it may give terms of this Agreement, to each Agent in respect of all amounts owing to such Agent under this Agreement or the other Transaction Documents in its capacity as Agent; 5.3.4 fourth, only if such payment is made on a Dissolution Date, to the Principal Paying Agent shall constitute for application in or towards payment pari passu and rateably of the Dissolution Distribution Amount; and 5.3.5 fifth, only if such payment is made on a breach of this Dissolution Date, to Ziraat Katılım in its capacity as Service Agent to retain as an incentive payment in accordance with the Service Agency Agreement. 4.5 5.4 In respect of all Periodic Distribution Amounts and the Dissolution Distribution Amounts, the Paying Agent shall perform its obligations as set out in, and in accordance with, the Conditions. 5.5 The Principal Paying Agent shall apply each amount paid to it into the Transaction Account under this Clause 4 (Accounts and Payment) 5 in accordance with the provisions of this Agreement, the Declaration Representative Agreement and Condition 9 (Payment) and shall not be obliged to repay any such amount unless in respect of Trust any payment made pursuant to Clause 5.3.3 above, the claim for the relevant payment becomes void under Condition 14 (Prescription), in which event it shall, subject to the payment of all prior ranking claims in accordance with Clause 5.3 above, at the written request of the Issuer, refund such portion of such amount as relates to such payment by paying the same by wire transfer in U.S. dollars to the Transaction Account or such other account specified by the Issuer for such purpose. The Calculation Agent, after consultation with the Issuer (or Ziraat Katılım on its behalf), shall notify the Principal Paying Agent of the amounts due and payable (if any) under Clauses 5.3.1 and/or 5.3.2 above at least two Business Days prior to the relevant Periodic Distribution Date or any other date referred to in Clause 5.3 above. 5.6 The entity making the relevant payments referred to in this Clause 5 shall ensure that no later than 10.00 a.m. (London time) on the second Business Day (as defined below) immediately preceding the date on which any payment is to be made to the Agent, the Agent shall receive a copy of an irrevocable payment instruction to or a payment confirmation from the paying bank of such entity. For the purposes of this provision, "Business Day" means a day on which commercial banks and foreign exchange markets settle payments and are open for general business in the jurisdiction of the Issuer, England and Wales and any other relevant jurisdiction as may be agreed between the Agent and the ConditionsIssuer.

ACCOUNTS AND PAYMENT. 4.1 ‌ 5.1 The Trustee shall have openedopened with the Principal Paying Agent, prior to the Issue DateDate of any Series, and shall for so long as any Certificates are outstanding maintainmaintain in its name, the a separate Transaction Account in London in respect of each Series which shall be non-interest bearing and operated by the Principal Paying Agent on behalf of the Trustee for the benefit and use of the Certificateholders. 4.2 5.2 The Trustee shall unconditionally cause to be deposited by wire transfer into the relevant Transaction Account by no later than 10.00 a.m. (New York time) (local time in the country of the Specified Currency in same day freely transferable and immediately availabletransferable, cleared funds) ): 5.2.1 on the date which is the Business Day prior immediately preceding each Periodic Distribution Date, to the extent paid by the Bank (acting in its relevant capacities) pursuant to the relevant Transaction Documents, an amount equal to the relevant Required Amount due with respect to each Series on the relevant Periodic Distribution Date;‌ 5.2.2 on the date which is the Business Day immediately preceding the relevant Dissolution Date (other than the Dissolution Event Redemption Date), to the extent paid by the Bank (acting in its relevant capacities) pursuant to the relevant Transaction Documents an amount equal to the relevant Dissolution Amount applicable to such Dissolution Date, as the case may be; and‌ 5.2.3 provided that a Dissolution Event has occurred, on which any payment the Dissolution Event Redemption Date, to the extent paid by the Bank (acting in respect of its relevant capacities) pursuant to the Certificates becomes due such amount as may be required for the purposes of making such paymentrelevant Transaction Documents.‌ 5.3 Subject to Clause 5.5 below, and in each case, all cases in accordance with the Transaction Documents. In this Clause 4.2 (Accounts and Payment), the date on which a payment in respect Master Declaration of the Certificates becomes due means the first date on which a Certificateholder could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a Business Day in any particular place of presentation. 4.3 Each of the Trustee and Infracorp shall procure that the bank through which any payment into the Transaction Account is to be made in accordance with Clause 4.2 (Accounts and Payment) shall irrevocably confirm to the Principal Paying Agent by authenticated SWIFT message no later than 1.00 p.m. (local time in the city of the Principal Paying Agent’s Specified Office) on the second Business Day before the due date for any such payment in respect of the Certificates that it will make such payment. 4.4 The Trustee hereby authorises and instructs the Principal Paying Agent, subject as provided in Clause 5.1 (Notification of Non-Receipt of Payment), to, and the Principal Paying Agent agrees that it shallTrust, on each Periodic Distribution Date and or on the date fixed for payment of the any Dissolution Distribution AmountDate, or any earlier date specified for the liquidation dissolution of the MudarabaTrust for each Series, apply the moneys Principal Paying Agent shall apply‌ the monies standing to the credit of the relevant Transaction Account in accordance with Condition 5.3 (The Trust6(b). The Trustee agrees that it will not issue any instructions to . 5.4 In respect of all Periodic Distribution Amounts and all Dissolution Amounts, the Principal Paying Agent that conflict with the instructions set out above and further agrees that any contrary instructions it may give to the Principal Paying Agent shall constitute a breach of this Agreementperform its obligations as set out in, and in accordance with, the Conditions. 4.5 5.5 The Principal Paying Agent shall apply each amount paid to it into the Transaction Account under this Clause 4 (Accounts and Payment) 5 in accordance with the provisions of this AgreementAgreement and Condition 10 and shall not be obliged to repay any such amount unless in respect of any payment made pursuant to paragraphs (iii) and/or (iv) of Condition 6(b), the Declaration claim for the relevant payment becomes void under Condition 13, in which event it shall, subject to the payment of Trust and all prior ranking claims in accordance with Condition 6(b), at the Conditions.written request of the Trustee, refund such portion of such amount as relates to such payment by paying the same by wire transfer in the Specified Currency to the Transaction Account or such other account specified by the Trustee for such purpose.‌ 5.6 The entity making the relevant payments referred to in this Clause 5 shall procure that, before